HAROLD PENNER: Fresno Real Estate Market Analysis
2010 Clovis Property Trends!


I have had an increasing number of buyers seeking suburban (over an acre) residential property on the outskirts of Clovis. They are primarily move-up buyers eager for space and privacy, but still desiring a closer proximity to the Clovis resources. Since there are fewer typically for sale (less than 100 sold per year) these types of property historically retain value longer than traditional properties. Judging from recent trends this may be one of the best times in recent history to buy suburban residential land in Clovis.

Pricing Changes?
2006 was the height of the market for suburban properties with a median price of $684,450. 87 homes were sold that year and it was rare to find anything below $400,000 in the area. Over the past four years the number of sold homes remained relatively steady with 97 homes sold in 2009. But the median price has reduced by 47% to $376,650 making it now possible to buy a Clovis suburban property in the $300,000 range!

Seller Changes
In addition to price, one notable change is the type of seller in these homes. In 2006, 99% of suburban Clovis homes sold were seller owned. By 2009, that number decreased to less than half (47%) of suburban properties being sold by sellers. Of the remaining homes, 47% were bank-owned sales and 6% were short sales. Since bank owned and short sale properties are sold at below-market prices, this change was a primary reason for the plummeting prices.

2010 Pricing Expectations
One interesting trend at the moment is the lack of bank owned or short sale listings in Clovis suburban properties. Of the 73 homes currently active (as of 01/27/10), there are only 6 bank owned and 10 short sales. Foreclosures have been declining throughout Clovis, but this trend appears to be slightly higher in the suburban market. Unless there is a large influx of foreclosures to skew the numbers and drive prices lower, pricing in Clovis acreage should remain steady and begin to increase over 2010.

FEATURED LISTING
794 W. Brittany Lane, Clovis, CA 93619

Click here for more info on this home!

Selling By Design-Staging, specialists in home staging, now has a new web site at www.sellingbydesign-staging.net with a link to my directory page on the Staging Diva web site at www.sellingbydesign-staging.com .

Having two sites will facilitate getting the word out on the huge benifits of home staging to home sellers, real estate agents and the real estate market in general. While home staging is a relatively new term to some, many homeowners, and those working in the real estate field have been reaping its rewards for years. In the present market home staging is a marketing must!

Gone are the days when a seller could simply dust the house, mow the lawn, stick up a for sale sign, and sell in a matter of weeks. Not only is the market down, but today's home buyers are demanding more in the houses they purchase. Home decorating t.v. and model homes have given prospective buyers a taste for fresh, updated, clutter free "magazine looking" homes. How can a seller who themselves has a busy, often hectic life, compete?

Enter the home staging expert! For a very small investment, which can mean simple do-it-yourself suggestions to a complete home staging job, a home staging professional can make a property go from easily forgettable to a home that is a MUST HAVE for a buyer.

As we enter the new spring market, whether you are a homeowner looking to sell, or an real estate agent with a new listing ( or an old unsold one) don't forget that home staging is an absolute marketing necessity!

‘POWERSMART℠’ HOMES BY LENNAR

Homebuyers in Fresno can now enjoy the benefits of Lennar’s green building with the introduction of energy-efficient homes that are part of their new PowerSmart℠ Home. Combining some of today’s most innovative products and materials, Lennar’s PowerSmart℠ homes give buyers the power to save money, to save energy and to save the environment. Lennar’s PowerSmart℠ homes provide buyers a lifetime of value by significantly reducing electricity costs, preserving the environment and creating energy independence. Lennar combines products, such as lighting, appliances and improved insulation, to maximize the benefits of an eco-friendly lifestyle.

Some lifestyle enhancing PowerSmart℠ features that are included in the purchase price at several Lennar homes in Fresno are tankless water heaters or 50-gallon insulated energy-efficient gas water heaters, HVAC 14 SEER condenser, zero-clearance gas-burning fireplace with electronic ignition, dual pane low-E solar gain windows that help reduce indoor temperatures in the summer months, unique design considerations that promote cross ventilation for reduced air-conditioning costs, and R-49 and R-15 insulation. Low flow water fixtures, programmable thermostats and Energy Star® appliances also are included features per plan.

Lennar offers 13 distinct communities to choose from throughout the greater Fresno area, including communities in Fresno, Clovis, Tulare, Lemoore, Visalia, and Reedley. Prices start in the $100,000’s and the distinctive floor plan styles range from approximately 1,500 to 2,200 square feet of living space. Homebuyers are invited to stop by and tour one of Lennar’s communities this weekend for special pricing, incredible financing and to see for themselves the energy-efficiency of a PowerSmart℠ home.

Community hours this weekend are Saturday and Sunday 11 a.m. to 5 p.m. For more information, give me a call at 559-994-6567.

Sincerely,

Shantay R. Davies

Internet New Home Consultant
Lennar Fresno Division

" Free upgrades," "Green Homes," "Low interest rates," "Pick your colors, flooring,lighting," "New energy efficient homes," " Huge master suites." The ads for the new builds in single family housing go on and on. The offers are very tempting especially for entry level, first time buyers. Why should they settle for an older home which very likely shows it's years even if the owners have done their best to keep it up?

How can homeowners who put their houses up for sale compete with the new builds being offered at affordable prices and with so many insentives. Most first time buyers don't want a house with potential. They want new and fresh. So what can sellers do to make their homes competitive?

HOME STAGING the best, most cost effective marketing tool a home seller has. Home Staging can be as simple as a walk through and consultation after which the home owner makes the needed changes.

Though many people don't want to spend money on a home they're going to sell, home staging, is one cost that is a great investment. It can make the difference between months on and off the market, price reduction, more months on the market ( all the while making house payments on the home) and a quick sale, often at or above the sellers price.

Home staging gives the home a fresh, newer appearance. It creates a clean, but warm, inviting environment that appeals to buyers. Most buyers today are not looking for potential in a home or one that needs TLC ( major fixer upper). They want new looking, clean and fresh.

I recently accompanied a young couple on their first home search, walking through countless houses and helping them make an offer on a one owner home, built in 2003. They were happy enough with the house until a friend suggested visiting a new developement. After the first visit to the new build model they pulled the offer. Like many of their friends they are now living in a home that is brand new.

We had seen bigger homes, larger lots, mature landscaping, but nothing that didn't need a good dose of home staging. Had some of these homes been staged it may have made a big difference in our home search and outcome.

Sellers need an edge in the competitive world of home selling. Home staging is that edge!